Some Notes on Classical Political Economy and the Rise to Dominance of Supply and Demand Theories

  • Joseph Halevi


In a paper delivered at an IEA conference at S’Agaro in April 1975, Professor Koopmans presented a growth model with an invariant capital stock, that is to say, an economy where the initial capital stock is optimal and remains so through time [7]. In his analysis the growth rate itself can be expressed by an input intensity vector. An increase in the latter would “swell up” all quantities in the required proportion.


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© Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile 2016

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  • Joseph Halevi

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